Alamo Group, Inc. (NYSE:ALG) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Alamo Group, Inc. (NYSE:ALG) have earned a consensus rating of “Moderate Buy” from the six research firms that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, two have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $225.00.

Several equities research analysts recently weighed in on the company. Zacks Research lowered Alamo Group from a “hold” rating to a “strong sell” rating in a research report on Thursday, March 5th. DA Davidson reissued a “neutral” rating and issued a $190.00 target price on shares of Alamo Group in a report on Monday, March 9th. Weiss Ratings reissued a “hold (c)” rating on shares of Alamo Group in a report on Friday, March 27th. Finally, William Blair initiated coverage on Alamo Group in a report on Monday, March 16th. They issued an “outperform” rating on the stock.

Insiders Place Their Bets

In other Alamo Group news, Director Nina C. Grooms sold 499 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $175.19, for a total value of $87,419.81. Following the sale, the director directly owned 2,844 shares of the company’s stock, valued at approximately $498,240.36. The trade was a 14.93% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Robert Paul Hureau bought 460 shares of the company’s stock in a transaction on Monday, March 9th. The stock was bought at an average cost of $164.40 per share, for a total transaction of $75,624.00. Following the completion of the acquisition, the chief executive officer directly owned 12,506 shares of the company’s stock, valued at approximately $2,055,986.40. This represents a 3.82% increase in their position. The SEC filing for this purchase provides additional information. Corporate insiders own 1.06% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. AlphaQuest LLC purchased a new position in shares of Alamo Group in the third quarter worth $3,324,000. Allspring Global Investments Holdings LLC raised its stake in shares of Alamo Group by 9.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 666,327 shares of the industrial products company’s stock worth $113,562,000 after purchasing an additional 57,456 shares during the last quarter. Tributary Capital Management LLC raised its stake in shares of Alamo Group by 92.5% in the third quarter. Tributary Capital Management LLC now owns 203,742 shares of the industrial products company’s stock worth $38,895,000 after purchasing an additional 97,898 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Alamo Group in the third quarter worth $1,193,000. Finally, Neumeier Poma Investment Counsel LLC raised its stake in shares of Alamo Group by 52.5% in the third quarter. Neumeier Poma Investment Counsel LLC now owns 95,931 shares of the industrial products company’s stock worth $18,313,000 after purchasing an additional 33,042 shares during the last quarter. Hedge funds and other institutional investors own 92.36% of the company’s stock.

Alamo Group Trading Up 0.4%

NYSE ALG opened at $172.86 on Tuesday. The company has a quick ratio of 2.82, a current ratio of 4.57 and a debt-to-equity ratio of 0.17. Alamo Group has a twelve month low of $156.29 and a twelve month high of $233.29. The firm has a market capitalization of $2.10 billion, a PE ratio of 20.12, a P/E/G ratio of 1.04 and a beta of 1.20. The stock’s 50 day moving average is $182.85 and its 200 day moving average is $180.20.

Alamo Group (NYSE:ALG) last released its quarterly earnings results on Monday, March 2nd. The industrial products company reported $1.70 earnings per share for the quarter, missing the consensus estimate of $2.06 by ($0.36). Alamo Group had a net margin of 6.47% and a return on equity of 10.04%. The firm had revenue of $373.65 million for the quarter, compared to the consensus estimate of $405.18 million. Research analysts forecast that Alamo Group will post 10.32 earnings per share for the current fiscal year.

Alamo Group Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, April 15th. Alamo Group’s payout ratio is 15.83%.

About Alamo Group

Alamo Group, Inc engages in the design, manufacture and marketing of equipment for vegetation management, roadside maintenance, agricultural harvesting and industrial applications. The company offers a broad portfolio of products, including boom mowers, flail mowers, rotary cutters, snow removal equipment, slurry seal machines, railcar movers and tow tractors. These offerings are distributed under a variety of brand names and through a network of independent dealerships and distributors, meeting the needs of municipalities, highway departments, agricultural producers and industrial operators.

The company operates through two primary segments: Agricultural and Industrial.